18th Mar 2014 11:59
LONDON (Alliance News) - 3Legs Resources PLC Tuesday said preliminary data from Slawoszyno LEP-1 in Poland is positive and it has decided on its Lublewo LEP-1 site as its location for a long lateral well.
The oil and gas exploration and development company said the Slawoszyno LEP-1 vertical well is now completed and reached a total depth of 2,819 metres with preliminary data showing that the Sasino shale formation in the well has a similar thickness to that shown in recent drilling of the nearby Strzeszewo LE-1 vertical well, while the Piasnica shale zone is slightly thinner than that seen at the Strzeszewo LE-1 well as it expected.
The company said that following a review of data from the Lublewo LEP-1 and the Slawoszyno LEP-1 vertical wells, it has agreed with ConocoPhillips to select the Lublewo LEP-1 well as the location for the planned long lateral well, Lublewo LEP-1ST1H.
3Legs said the necessary permits have now been obtained for drilling the long lateral well and the rig is in the process of being mobilised from the Slawoszyno LEP-1 well to the Lublewo location.
The company added that following drilling and completion of the lateral well, it continues to expect that testing will take place in the third quarter.
3Legs shares were trading flat at 24.00 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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